First Liberty Power (fka FLPC)

[jjphillips]

That is a tough question to answer. IMO, no. There is going to be a pile of shares due in a few weeks.

IMO, the note that was issued this week was the one that was due on September 14, 2014. I suspect they came to an agreement with the note holder as they knew issuing that note at the time would have destroyed the pps and sent it to trips. Perhaps they issued 20M shares a few weeks ago as part of an agreement to put that off until they could share mill news with investors and get support.

The notes due on October 21 are Tangiers, not Asher, so the note this week had nothing to do with them (look at the Dec 2013 10Q). Thus, there will be a pile of shares converted in a few weeks, unless they can work out a different agreement.

That being said, the conversion rate will be based on the pps of the lowest two days starting on Wednesday, so there needs to be a rebound the next few trading days or some other agreement or else there is going to be a ton of shares due in less than three weeks.